Shares of One Point One Solutions Ltd rose during the trading session on Saturday to hit new 52-week high as the company issued equity shares after conversion of warrants. The company informed about the same through an exchange filing on Friday. The company board of One Point One Solutions considered and approved the conversion of 17,50,000 convertible warrants into 17,50,000 equity shares of face value of Rs 2 each, on preferential basis, upon receipt of an amount aggregating to Rs 3,71,70,000, said the company in the exchange filing. The conversion was made upon the payment at the rate of Rs 21.24 per warrant, being 75 per cent of the issue price per warrant, from the allottees pursuant to the exercise of their rights of conversion into equity shares, it added. The remaining 25 per cent of amount was paid at the time of allotment of warrants. Following the announcement, shares of One Point One Solutions rose about 4 per cent to Rs 69.95 on Saturday, hitting its new 52-week high, with a total market capitalization of more than Rs 1,350 crore. The scrip had previously settled at Rs 67.45 in the previous trading session on Friday. The stock is up 370 per cent from its 52-week low at Rs 14.90. One Point One Solutions has issued 3.44 crore convertible warrants on October 27,2023 at an issue price of Rs 28.32 each, which were to be converted into equity shares with a span of 18 month. With the latest conversion 1.67 crore warrants remain pending for conversion. One Point One Solutions is specialized in the business of customer life cycle management, business process management and technology servicing. The company provides solutions to a wide variety of industries including banking and finance, telecom, insurance, consumer durables and FMCG, e-commerce, retail, and more.
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